Akintola Oladejo
Akintola Oladejo, the visionary CEO of Prestigious Homes Limited, is on a mission to transform Nigeria’s real estate sector into a powerhouse that rivals the likes of Dubai and Singapore. With projects in Lagos’s most commercially viable areas – from Banana Island, which mirrors Dubai’s Palm Jumeirah, to Victoria Island with its similarities to Business Bay, and Lekki resembling Dubai Marina – Oladejo is building a legacy. With a diverse background in engineering, banking, and oil and gas, Oladejo brings a unique blend of skills and a deep-seated passion for construction to his ambitious projects. His goal is not only to provide a luxurious home alternative to Dubai but also to offer high-yield investments that appeal to both Nigerians looking to invest back home and non-Nigerians eager to participate in one of Africa’s biggest economies.
Turning passion into reality
Oladejo’s journey from a part-time real estate enthusiast to a full-time developer illustrates his dedication and vision. “Transitioning to full-time real estate was not as difficult as I expected because of my prior experience and passion for the work,” he reveals. Despite facing the challenges of building a structured business and assembling a competent local team, his extensive experience and fervor for construction smoothed the path. His story is one of resilience and steadfast commitment to excellence.
Oladejo’s passion for real estate dates back to his childhood. “I have always been fascinated by construction and architecture,” he shares. This passion, combined with his professional experience, has driven him to pursue excellence in every project he undertakes.
Learning from Dubai’s pioneers
Oladejo’s interactions with renowned Dubai developers such as Emaar, Damac, and Sobha have significantly influenced his approach to real estate in Lagos. By integrating the quality and excellence observed in Dubai, Oladejo ensures that his projects like La Vida and The Glove meet international standards, setting new benchmarks for luxury living in Nigeria.
Projects like La Vida estate, Casa Branco and Sutherland Court exemplify this commitment to excellence. “Our developments are designed to offer a unique blend of luxury and functionality,” Oladejo notes. By adopting best practices from his UAE counterparts, he is raising the bar for real estate in Nigeria.
Akintola Oladejo
Innovative solutions to market challenges
The Nigerian real estate market is not without its obstacles, particularly regarding financing and affordability. Oladejo is tackling these issues through innovative solutions such as zero-interest payment plans for off-plan properties, allowing buyers to invest in alignment with project milestones. “We offer zero-interest payment plans for off-plan properties, similar to strategies employed by Dubai developers,” Oladejo explains. This strategy is pivotal in a market where high interest rates can be discouraging for investors and end users.
By offering flexible payment plans, Oladejo is making homeownership more attainable for Nigerians. “We are committed to making luxury living accessible to more people,” he asserts. This approach not only benefits buyers but also stimulates the real estate market.
Harnessing the power of diaspora investment
The Nigerian diaspora is increasingly investing in Lagos’s real estate market, attracted by cultural connections and lucrative investment opportunities. “Diaspora investors are increasingly interested in buying homes in Lagos due to affordability and cultural significance,” says Oladejo. He emphasises the crucial role of diaspora investors in driving market growth, noting their preference for high-quality, luxurious developments. This influx of investment is propelling Lagos closer to its ambitious development goals.
The strong emotional ties to Nigeria drive many diaspora investors. “For many, investing in real estate back home is a way to stay connected to their heritage,” Oladejo observes. This sentiment, combined with the potential for high returns, makes Nigerian real estate an attractive investment option.
A visionary outlook for Nigerian real estate
Despite the challenges, the global real estate market continues to grow, with an expected compound annual growth rate (CAGR) of 7.4% from 2023 to 2024. Oladejo projects similar growth for Nigeria, with the market poised to reach $3 trillion by 2029. This growth is fueled by both local demand and increasing interest from diaspora investors, making Lagos a focal point for real estate development in Africa.
Oladejo’s vision includes ongoing and future projects that will continue to set new standards in luxury living. “We are constantly exploring new opportunities and innovative solutions to meet the needs of our clients,” he states. This forward-thinking approach ensures that Prestigious Homes Limited remains at the forefront of the real estate industry.
Akintola Oladejo’s strategic vision and innovative solutions are transforming Nigeria’s real estate landscape. His leadership at Prestigious Homes Limited is not just about building structures but about crafting a future where Lagos stands tall among the world’s leading real estate markets, competing with the grandeur and luxury of cities like Dubai. “We are building more than homes; we are building a legacy,” Oladejo concludes.
